New USTelecom Analysis Shows Broadband Drives U.S. Economic Growth May 14th, 2009
Patrick Brogan

These days, policymakers, economists and industry analysts alike are searching for sectors that are strong engines of economic growth.  Now, new USTelecom analysis reveals that the broadband-fueled Information, Communications and Technology (ICT) industries far outpace all other sectors in contributions to U.S. economic growth and provide among the highest-earning, fastest-growing jobs in the country. The analysis, “The Economic Benefits of Broadband & Information Technology,” was published in the latest edition of New York Law School’s Media Law & Policy journal.

Just how significant are the contributions ICT industries are making to our economy?  Consider this: the converging sectors of broadband, media and information technology add nearly $900 billion annually to the nation’s economy and are expanding at a rate that is two to five times faster than the overall U.S. economy.  As our analysis highlights, jobs in the broadband/ICT sector pay 50% more than the hourly national average.  And, here’s more good news: broadband-enabled jobs are projected to remain among the leading high-growth areas for at least the next 10 years.

The number of jobs across ICT industries is also substantial.  USTelecom analysis of the Bureau of Labor Statistics’ Occupational Employment Statistics indicates there were more than 10 million broadband/ICT jobs in 2007, with 5.7 million in ICT industries such as broadband service providers, content producers and equipment manufacturers. Additionally, the data shows 4.4 million ICT-centric jobs in industries outside of the ICT sector (e.g., network administrators in schools and hospitals).  And, these employment tallies do not count the many more jobs made possible by broadband as an enabling technology—for example, self-employed rural Americans working from home over the high-speed Internet.

In the past two years alone the nation’s broadband providers have invested more than $120 billion in infrastructure, unleashing innovation that is rippling throughout virtually every sector of the U.S. economy. From ensuring U.S. global competitiveness to speeding advances in health care, education and green technologies, broadband is driving significant economic and life-enhancing opportunities that require substantial, ongoing innovation and network investment to thrive.

This entry was posted on Thursday, May 14th, 2009 at 10:23 am and is filed under Reports and Studies. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.